Pound Sterling Price News and Forecast: GBP/USD set to end the session flat ahead key US data
|GBP/USD: Risk reversal pauses two-day downtrend despite Brexit jitters
One-month risk reversal (RR) of GBP/USD, a gauge of calls to puts, snaps a two-day downtrend by the end of Tuesday’s North American session. In doing so, the RR prints 0.0000 level, following the -0.042 and -0.050 numbers. Although the options market data suggests that the GBP/USD sellers have stepped back, concerns over Brexit, recently fueled by comments from an Irish Foreign Minister Simon Coveney, challenge the pair buyers.
GBP/USD analysis: Surge encounters resistance
The GBP/USD currency exchange rate surge has encountered resistance at 1.3605/1.3610. This zone proved that it can impact the pair during the first trading sessions of November. If the resistance zone of 1.3605/1.3610 holds, a decline of the rate might occur.
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